Insurance Industry Realizes Health Care Reform Is a Disaster

Did you realize that  the average Health Insurance Company runs a 2.2% profit? We have known this for years – but if you listen to those that villify insurance companies, you’d think they were raking in huge profits. None do – none make much more than an 8% margin. When they do, they pay dividends to share or policy holders…

The Wall Street Journal came out swinging this morning with an article about Health Care Reform where they ask if the industry is waking up too late. (They are supposed to vote on the deal in some Senate Committee today) Look at the below quote from the entire article:

The best scales-from-the-eyes moment comes courtesy of America’s Health Insurance Plans, the industry lobby. Yesterday AHIP released an important PricewaterhouseCoopers study showing that the Finance bill would on average add some $1,700 a year to the cost of family coverage in 2013. A decade from now, family premiums would cost $4,000 more than if Congress did nothing, and singles would pay about $1,500 more. Hardest hit would be the individual market, with rates rising by 49%, but even the largest employers would see increases between 9% and 11%.